Recession affected generations differently

Published May 2, 2014 at 12:06AM

Baby boomers, members of Generation X and millennials experienced the negative impacts of the Great Recession in many different ways, according to a new survey released by the TransAmerica Center for Retirement Studies.

The survey found that while boomers were more likely than the other generations to see the value of their homes or their investment portfolios decrease, millennials had a harder time finding a new job and were more likely to see their hours cut back.

Members of Generation X fell in the middle of the two other generations in both of these categories.

Overall, the survey found 80 percent of boomers, 74 percent of Generation X and 65 percent of millennials said they suffered some type of a negative consequence because of the Great Recession.